Page 431 - CRC_One Report 2021_EN

Business Overview and Performance Corporate Governance Financial Statements Enclosure

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For the year ended 31 December 2021 2021
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All associates were incorporated and mainly operate in Thailand, except for COL Vietnam Joint Stock Company
Consolidated
Separate

which was incorporated and mainly operates in Vietnam. financial statements
financial statements

2021 2020 2021 2020
All joint ventures were incorporated and mainly operate in Thailand, except for Morningbliss SDN. BHD and
(in million Baht)

Porto Worldwide Limited which were incorporated and mainly operates in Malaysia and Hong Kong, respectively.
Finance lease receivables

Other related party 2,206 2,177 - -
None of the Group’s and the Company’s associates and joint ventures are publicly listed and consequently they
do not have published price quotations.
Trade payables

Parent - 1 - Consolidated
-
-
Other related parties 52 90 financial statements
-
Material movements
Total for the year ended 31 December 52 91 2021 -
-
2020
(in million Baht)
Other current payables
Joint ventures
-
30
119
Parent Acquisition share capital in Porto Worldwide Limited 347 4,452 -
11
38
Subsidiaries - - 70 20
Increase in share capital in MUJI Retail (Thailand) Co., Ltd.
Joint ventures 1 6 - -

Other related parties 1,155 961 11 1
Investments in joint ventures
Total 1,275 1,314 49 42
Acquisition

Short-term borrowings
In December 2021, the Group acquired 133,545,740 shares, equivalent to 67% of share capital of Porto

Subsidiaries - - 6,939 9,277

Worldwide Limited incorporated in Hong Kong for a consideration of Baht 4,452 million from a related

party, which became a joint venture between the Group and Central Pattana Public Company Limited
Lease liabilities
2,777
-
2,987
-
Parent (CPN). The purpose of this joint venture is to invest 40% shareholding in Grabtaxi Holdings (Thailand)
Co., Ltd. The acquisition is in accordance with the obligations stipulated in the SPA which was approved
Subsidiaries - - 13 26
by the Board of Directors’ meeting of the Company on 10 December 2019 and the Shareholders’
Other related parties 11,532 11,257 37 19

14,034
50
45
14,519
Total meeting of the Company on 19 December 2019. Additional, in the future, Porto Worldwide Limited has
the right to swap its shares, in part or entirety, in GrabTaxi Holdings (Thailand) Co., Ltd. with the Class

A ordinary shares of Grab Holdings Limited which listed on the NASDAQ with the designated price
Unearned lease income
within the specified period.
Other related parties 5,458 5,620 - -

Increase in share capital
Other non-current liabilities

Parent - 3 - -
During 2021, the Group made additional investments in MUJI Retail (Thailand) Co., Ltd. to increase
Subsidiaries - - 1 1
share capital of 700,000 shares, amounting to Baht 70 million.
Associates 44 42 - -

Other related parties 151 174 - -
During 2020, the Group made additional investments in MUJI Retail (Thailand) Co., Ltd. to increase
195
Total share capital of 200,000 shares, amounting to Baht 20 million. 219 1 1

Other commitments

Service agreements 310 - 310 -
Total 310 - 310 -

Business acquisition

During 2021, the Group acquired a business which was partially purchased from related parties as
disclosed in note 6(a).

Guarantor for credit facilities

As at 31 December 2021, the Company acted as guarantor for credit facilities from financial institutions
for its related parties totaling Baht 10,145 million (2020: Baht 9,946 million).

Annual Report 2021 (Form 56-1 One-Report) 431
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